Friday 19 Apr 2024
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NEW YORK (Sept 15): U.S. stock index futures were falling slightly on Monday after data showing China's factory output grew at the weakest pace in nearly six years in August triggered some downgrades in 2014 growth forecasts for the world's second-largest economy.

Brent crude oil fell Monday to its lowest in more than two years, below $97 per barrel, weighed by the Chinese data. A further decline in crude oil prices will likely weigh on stocks as the energy sector of the S&P 500 continues to struggle, down 8 percent from its record set 12 weeks ago.

Alibaba Group Holding Ltd <IPO-BABA.N> plans to increase the size of its U.S. initial public offering because of "overwhelming" investor demand, people familiar with the deal said on Monday. Alibaba could set a new record for the world's biggest IPO.

Merger activity was front and center with Cognizant Technology in a deal to buy healthcare IT services provider TriZetto Corp for $2.7 billion in cash and healthcare conglomerate Danaher Corp buying Nobel Biocare Holding AG for $2.2 billion, including debt.

Major U.S. equity indexes closed Friday the first negative week in six, with the S&P 500 down just 1.1 percent from its record close set earlier this month.

New York Fed manufacturing data is due at 8:30 a.m. EDT (1230 GMT) and industrial output and capacity utilization numbers are expected at 9:15 a.m. (1315 GMT)

Futures snapshot at 7:04 EDT (1104 GMT):

S&P 500 e-minis were falling 2 points, or 0.1 percent, with 75,656 contracts changing hands.

Nasdaq 100 e-minis were down 2 points, or 0.05 percent, in volume of 9,244 contracts.

Dow e-minis were down 13 points, or 0.08 percent, with 3,826 contracts changing hands.

 

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